Buy Home Depot (HD) Stock Now, Top Traders Advise - TheStreet

NEW YORK (TheStreet) -- Home Depot (HD) - Get Report  is a good stock to buy because its price has had a recent uptick, but it's still "well below" its highs, Najarian Family and Advisors Office co-founder Pete Najarian said on CNBC's "Halftime Report" this afternoon. 

"I actually jumped in the stock though, not the options, today because I like this company that much," he said. "I think I might want to own this thing long-term," he added. 

Deltec owns it and likes the stock as well, the firm's CIO and CNBC guest Atul Lele said. 

Homebuilders are going to do "well" in the environment of rising income growth. In addition, home prices are increasing, and that "tends to be the number one contributor to home refurbishing." 

While mortgage rates have gone up this year, they're just slightly higher than they were at the same time in 2015, Lele noted. 

"We like Home Depot and other home builders," he concluded.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings team rates Home Depot as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that the team rates.

You can view the full analysis from the report here: HD

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